He won a gold medal at the 1968 Olympics and became heavy-weight champion in 1973 by defeating Joe Frazier. He lost the title to Muhammad Ali in 1974.
Foreman made a comeback in the 1990s and regained the heavy-weight title at age 45, earning him $100 million.
Most of Foreman's wealth comes from endorsing the George Foreman Grill in the 1990s. He earned over $200 million from the grill's sales.
The George Foreman Grill became a pop culture phenomenon, selling over 100 million units and earning Foreman around 40-50% profits from each sale.
Foreman earned around $70 million from his boxing career, with his biggest paydays coming from fights against Joe Frazier and Muhammad Ali.
Beyond the grill, Foreman has endorsed brands like McDonald's, Doritos and KFC, earning him millions. He also has a clothing line and reality TV show.
Foreman lives a comfortable but not lavish lifestyle. He focuses on philanthropy through his George Foreman Youth and Community Center for underprivileged youth.